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How do I report my Form 1099-Q, Payments From Qualified Education Programs?

You should receive a copy of Form 1099-Q if you received a distribution or withdrew funds from from a qualified tuition program or if you are the trustee of a Coverdell Education Savings Account. Only some of these withdrawals are taxable. 

Go to this section in Credit Karma Tax: Other Income

Do I need to report this as income?

If you used all of the distribution reported to you in Box 1 of Form 1099-Q to pay for qualifying education expenses, you don’t need to report this as other income. Simply keep this form for your records.
Source: irs.gov

In the event that you did not spend all of the 1099-Q distributions from Box 1 on qualifying education expenses, you can enter the taxable amount at the bottom of the Other Income page. You can enter the information from Box 1 of Form 1099-Q under the “Other Income” section.
Which education expenses qualify?

Qualified education expenses include: the tuition, fees, books, supplies and equipment required for your courses.

It does not include:

  • Room and board, travel, or any expenses that are not required for your course.
  • Expenses used for teaching, research, or other services.
    • *You don't need to include in gross income any amounts you receive for services that are required by the National Health Service Corps Scholarship Program or the Armed Forces Health Professions Scholarship and Financial Assistance Program.

You can’t claim an education credit for the expenses you paid with your distributions. However, you may be able to claim an education credit for the qualified education expenses that were greater than the distributions that you received.

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